Wealth creation is a long journey and becomes one of the most important goals when you start working. The earlier you plan the better it is in the near future. Goals are just planned expenses at different points in our lives. From a new bike or a car to a new home, even a vacation or your child’s wedding! We all have different goals at every stage.
Investing in mutual funds through an SIP is one of the best ways to meet your financial goals. Setting up an SIP makes it easier to budget for investment goals. When you work a small amount into a monthly budget, it becomes more likely that you stick with the plan, making it easier to achieve your investment goals.
The earlier you start the more you benefit. If you invest Rs 5,000 per month for 25 years, you will be able to accumulate approx Rs 1.37 crore. We have assumed a CAGR return of 15% per annum (Illustration above). Total invested amount is Rs 14,40,000.
CLICK HERE TO KNOW MORE
An Investor Education Initiative
Disclaimer – This document is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. This document provides general information on performance; financial planning and/or comparisons made are only for illustration purposes. The data/information used/disclosed in this document is only for information purposes and not guaranteeing / indicating any returns. Investments in MFs and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient should also understand that any reference to the indices/ sectors/ securities/ schemes etc. in the document is only for illustration purpose and should not be considered as recommendation(s) from the author or L&T Investment Management Limited, the asset management company of L&T Mutual Fund or any of its associates. Recipient of this information should understand that statements made herein regarding future prospects may not be realized or achieved. The distribution of this document in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come into possession of this document are required to inform themselves about, and to observe, any such restrictions.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.